If you are looking for a way to gain exposure to gold and copper and have a high tolerance for risk, then read on.

That’s because Bell Potter is tipping one up and coming ASX gold-copper stock to explode over the next 12 months.

Which ASX gold-copper stock?

The stock that has caught the eye of Bell Potter is Waratah Minerals Ltd (ASX: WTM).

It is a New South Wales based, gold-copper exploration and development company. 

Its flagship project is the 100%-owned Spur gold-copper project, which is an advanced stage, pre-resource exploration project in the Lachlan Fold Belt. This is located ~33km southwest of Orange and just ~5km from the Cadia gold-copper operation owned by Newmont Corporation (ASX: NEM). 

Bell Potter notes that more drilling results have been announced for the Spur Project, which have been positive. It said:

WTM has announced further results from the Consols Zone, part of the 80,000m growth and extensional drilling program at its 100%-owned Spur Project in NSW. Holes returned include SPD074, a major step-out hole which successfully intersected multiple mineralised zones, confirming a significant eastward and down-plunge extension of Consols. The hole also intersected a previously unrecognised shallow high-grade zone, opening up a new area of exploration potential. 

Drilling also progressed at the Spur Zone, extending mineralisation north along the Tywi Fault. Results included SPD081, which intersected Consols-style mineralisation at Spur, extending mineralisation 65m north, further building the case for continuity between the zones. It also intersected potassic alteration in another hint of the porphyry potential at depth, which has not yet been seriously tested. Multiple rigs remain active, indicating a steady news flow through the rest of CY26.

Should you invest?

According to the note, Bell Potter has retained its speculative buy on the ASX gold-copper stock with an improved price target of $1.15.

Based on its current share price of 60.5 cents, this implies potential upside of 90% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

The Spur Project is showing strong indications of delivering a gold-copper deposit of substantial scale and grade in a strategic setting. We see potential for the delineation of a regionally significant gold Resource of +3.0Moz at competitive gold grades between 0.8-1.0g/t Au. This informs our valuation, which is based on a 50:50 blended EV/Resource ounce multiple and risk-adjusted notional mining scenario. We lift our Valuation to $1.15/sh and retain our Speculative Buy recommendation.

The post Why this ASX gold-copper stock could rocket 90% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Once a week, I like to look at ASIC’s short position report to find out which ASX shares are being targeted by short sellers.

That’s because I believe it is worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, listed below are the 10 most shorted shares on the ASX this week according to ASIC.

The top 10 most shorted ASX shares

• DroneShield Ltd (ASX: DRO) has returned to the top of the table with short interest of 14.9%, which is down slightly week on week. The counter-drone technology company remains a popular target for short sellers. This could be partly due to the ongoing uncertainty created by ASIC’s investigation.
• Lotus Resources Ltd (ASX: LOT) has seen its short interest fall sharply to 13.6%, but it remains the second most shorted ASX share. The uranium developer’s recent capital raising may have eased some pressure, though short sellers still appear to be questioning development timelines and uranium demand.
• 4DMedical Ltd (ASX: 4DX) has short interest of 12.4%, which is broadly unchanged since last week. The medical imaging technology company continues to divide the market. While some investors see a large commercial opportunity, short sellers may be focusing on the gap between its market valuation and its current revenue base.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest ease to 12.3%. The pizza chain operator is trying to reset the business after a difficult period of store closures, impairments, and weaker trading. Short sellers may be waiting for clearer evidence that the turnaround will succeed.
• CAR Group Limited (ASX: CAR) has short interest of 12.1%, which is flat since last week. This may reflect concerns over the auto listings company’s outlook in a difficult operating environment.
• Treasury Wine Estates Ltd (ASX: TWE) has seen its short interest rise to 12%. Short sellers may have concerns over weak wine demand and the pace of the Penfolds owner’s recovery.
• Paladin Energy Ltd (ASX: PDN) has 11.2% of its shares held short, which is down slightly week on week. Short sellers appear to believe the market is too optimistic on production, costs, and uranium prices.
• PLS Group Ltd (ASX: PLS) has seen its short interest rise to 11.1%. Short sellers may be betting that prices for the battery-making ingredient remain under pressure, which would be bad news for margins.
• Zip Co Ltd (ASX: ZIP) has entered the top ten with short interest of 10.9%. Its strong share price recovery may have led some short sellers to question whether expectations have run too far, especially given weak consumer spending.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest ease to 10.8%. Short sellers may still have concerns over Middle East disruption, margins, and travel demand.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, DroneShield, and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended CAR Group Ltd, Domino’s Pizza Enterprises, and Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) mining and materials shares outperformed last week, rising 2.5% vs. an 0.4% bump for the index.

As earnings season comes to a close today, let’s review new ratings on three popular ASX 200 mining shares.

BHP Group Ltd (ASX: BHP)

BHP is a major iron ore producer and also the world’s largest copper producer.

Last week, the BHP share price hit a new record of $68.77 per share.

Morgans has a buy rating on the market’s largest ASX 200 mining share. 

On The Bull this week, analyst Damien Nguyen said: 

BHP offers exposure to a portfolio of high quality mining assets and remains well positioned to benefit from long term demand for copper and other critical minerals.

A strong operating performance, healthy cash generation and a disciplined approach to capital allocation continue to support the investment case.

While iron ore remains important, increasing copper exposure provides leverage to electrification and decarbonisation trends.

BHP appeals for potential capital growth, income and for diversified resources exposure.

The company posted an attributable profit of $US9.8 billion in full year 2026, up 9 per cent on the prior corresponding period.

Revenue of $US58.8 billion was up 15 per cent.

BHP is among 37 ASX shares going ex-dividend this week.

The miner declared a final fully franked dividend of 99 US cents per share for FY26.

BHP shares will trade ex-dividend on Thursday.

Rio Tinto Ltd (ASX: RIO)

Rio Tinto is a diversified miner with significant iron ore, copper, and lithium operations.

Morgans has a hold rating on this ASX 200 mining share.

Nguyen explained:

Rio Tinto continues to generate strong cash flow from its world class iron ore operations, while building exposure to copper and lithium.

The company maintains a robust balance sheet and offers attractive shareholder returns, supported by low cost assets.

However, iron ore remains the primary earnings driver, leaving profits exposed to movements in commodity prices and Chinese demand.

Given this balance of quality and cyclical risk, we see Rio Tinto as fairly valued at recent levels.

PLS Group Ltd (ASX: PLS)

PLS Group is the ASX 200’s most valuable lithium share by market capitalisation.

Morgans has a sell recommendation on PLS Group shares.

Analyst Annabelle Sleeman commented:

PLS delivered an in-line FY26 Underlying EBITDA result and surprised with a maiden 5cps fully franked final dividend (22% FCF payout).

We view PLS as fairly valued at current levels, with its premium to peers already reflecting the company’s best-in-class execution, balance sheet and growth optionality.

Depleted lithium inventories leave scope for short-term upside, though we see the medium-term outlook as more volatile given uncertainty around supply and demand drivers.

PLS Group shares will trade ex-dividend on Wednesday.

The post Buy, hold, sell: Rio Tinto, PLS Group, BHP shares appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.